Te Ahumairangi Investment Management Ltd Acquires 3,840 Shares of Visa Inc. $V

Te Ahumairangi Investment Management Ltd lifted its holdings in shares of Visa Inc. (NYSE:V) by 14.1% in the second quarter, HoldingsChannel.com reports. The fund owned 31,121 shares of the credit-card processor’s stock after acquiring an additional 3,840 shares during the period. Visa makes up 2.0% of Te Ahumairangi Investment Management Ltd’s investment portfolio, making the stock its 12th largest position. Te Ahumairangi Investment Management Ltd’s holdings in Visa were worth $11,050,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Keystone Global Partners LLC purchased a new stake in shares of Visa during the 1st quarter valued at $26,000. Family Legacy Financial Solutions LLC bought a new position in Visa during the second quarter valued at about $28,000. Harbor Asset Planning Inc. bought a new position in Visa during the second quarter valued at about $29,000. Cranbrook Wealth Management LLC increased its holdings in Visa by 82.0% during the second quarter. Cranbrook Wealth Management LLC now owns 91 shares of the credit-card processor’s stock worth $32,000 after buying an additional 41 shares during the last quarter. Finally, Hoese & Co LLP bought a new stake in Visa in the second quarter worth about $36,000. 82.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

V has been the subject of a number of research reports. Citigroup raised shares of Visa to a “strong-buy” rating in a research report on Thursday, October 23rd. Macquarie dropped their price objective on Visa from $425.00 to $410.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 29th. Barclays reissued an “overweight” rating and set a $408.00 price objective (up from $396.00) on shares of Visa in a report on Thursday, July 31st. Robert W. Baird set a $425.00 target price on Visa in a research report on Wednesday, October 29th. Finally, KeyCorp restated an “overweight” rating and issued a $405.00 target price on shares of Visa in a research note on Wednesday, October 22nd. Four analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Visa presently has an average rating of “Moderate Buy” and an average target price of $400.00.

Visa Stock Up 1.6%

Visa stock opened at $334.70 on Wednesday. The firm has a 50 day simple moving average of $340.14 and a 200 day simple moving average of $347.61. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.53. Visa Inc. has a 1-year low of $299.00 and a 1-year high of $375.51. The firm has a market capitalization of $609.74 billion, a price-to-earnings ratio of 32.78, a P/E/G ratio of 1.95 and a beta of 0.87.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 28th. The credit-card processor reported $2.98 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.01. Visa had a return on equity of 60.31% and a net margin of 50.15%.The company had revenue of $10.72 billion during the quarter, compared to analysts’ expectations of $10.60 billion. During the same period in the previous year, the business earned $2.71 earnings per share. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, analysts predict that Visa Inc. will post 11.3 earnings per share for the current year.

Visa Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Wednesday, November 12th will be given a dividend of $0.67 per share. This is a boost from Visa’s previous quarterly dividend of $0.59. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 12th. Visa’s dividend payout ratio (DPR) is currently 26.25%.

Insider Transactions at Visa

In other news, insider Paul D. Fabara sold 2,172 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $325.93, for a total value of $707,919.96. Following the sale, the insider directly owned 26,413 shares of the company’s stock, valued at approximately $8,608,789.09. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lloyd Carney sold 900 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $336.48, for a total transaction of $302,832.00. Following the completion of the transaction, the director owned 2,468 shares of the company’s stock, valued at $830,432.64. This trade represents a 26.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 24,042 shares of company stock valued at $8,175,152. 0.13% of the stock is currently owned by corporate insiders.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.